CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 125,138	$ 127,665
Short-term marketable securities	296,545	255,669
Trade receivables, net of allowances	69,629	53,976
Inventory	12,349	12,412
Prepaid expenses and other current assets	37,469	21,880
Total current assets	541,130	471,602
Strategic inventory	12,002	3,583
Operating lease right-of-use asset	4,776	5,324
Property and equipment, net	2,094	2,689
Long-term marketable securities	102,557	219,831
Other assets	8,049	6,610
Deferred tax assets, net	152,999	130,914
Total assets	823,607	840,553
Current liabilities:
Accounts payable	34,446	15,376
Accrued research and development expenses	28,322	33,868
Accrued and other liabilities	108,447	90,700
Short-term operating lease liability	1,050	829
Total current liabilities	172,265	140,773
Long-term operating lease liability	5,308	6,107
Long-term accrued income taxes payable	14,132	14,084
Total liabilities	191,705	160,964
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred stock	0	0
Common stock	139	136
Treasury stock	(923,290)	(696,173)
Additional paid-in capital	933,613	832,108
Accumulated other comprehensive income (loss)	2,341	(217)
Retained earnings	619,099	543,735
Total stockholders’ equity	631,902	679,589
Total liabilities and stockholders’ equity	$ 823,607	$ 840,553